UnitedHealthcare is investing $2.3 million in Riverbend Estates Senior Community, a new 42-unit affordable-housing development that will give local seniors access to quality housing and onsite support services.
The announcement was made at a groundbreaking ceremony where community leaders and development partners celebrated the start of construction.
UnitedHealthcare is making the investment in partnership with Affordable Equity Partners (AEP) through the use of Low Income Housing Tax Credits (LIHTC), which were approved by the Missouri Housing Development Commission (MHDC). The property is being developed by MOCAP Development and will be managed by Fairway Management.
Riverbend Estates is located approximately 45 miles southwest of St. Louis and will feature onsite management, a community room, fitness center and computer center, among other amenities. Nearby conveniences include transportation services, restaurants, banks, shopping and Mercy Regional Hospital. Within two miles of the property is historic Downtown Washington, which features local businesses and restaurants.
Since 2005, United Healthcare has invested nearly $34 million in equity to help build 21 affordable-housing communities for seniors and families in Missouri. This investment has helped provide 843 homes for families and seniors statewide.
“UnitedHealthcare’s investment to support affordable-housing in Missouri is helping connect people to housing, health care and other important services that will enable them to live healthier lives,” said Kurt Heumann, CEO, UnitedHealthcare Medicare & Retirement in Missouri. “We are grateful for the opportunity to build stronger communities, particularly for seniors, here in our state.”
Through its Affordable Housing Investment Program, UnitedHealthcare has provided more than $350 million in financing for 56 housing development projects in 14 states, creating more than 2,700 affordable homes for individuals and families, including seniors, military veterans, people living with disabilities and those struggling with homelessness.
During a groundbreaking ceremony, Kurt Heumann, CEO, UnitedHealthcare Medicare & Retirement in Mo., and Washington Mayor Sandy Lucy discuss the company’s $2.3 million investment in Riverbend Estates Senior Community, a new 42-unit affordable-housing development in Washington, Mo.